Friday, November 14, 2008

Applied Materials Cuts 1800

Santa Clara-based Applied Materials, which manufactures equipment for the semiconductor industry, said Thursday that it is cutting 1,800 jobs at the firm, or approximately 12% of its workforce, as part of a restructuring program. AMAT said the moves were due to "declining market conditions." The company said it would reach its goal through attrition, voluntary separation, and other "workforce reduction programs." The moves came in conjunction with Applied Materials' quarterly report.